Power BI is the leading business analytics tool for organizations across a range of industries. This analytical tool helps quickly when it comes to analyzing data, generating reports, and showcasing insights in a visually compelling way. Many businesses are now embracing the power of this analytical tool, as it provides business insights efficiently.
In this post, you’ll see how effective Power BI actually is. Here, I’ve put together some of my Power BI tutorials that show how you can generate unique business insights using Power BI. I demonstrate certain techniques on how you can achieve and implement them in your own work.
Profits Insights
One of the most common reports in businesses is the sales analysis. Sometimes, sales records are not enough. You’d most likely want to know more about your profits, right? For example, you might want to know where your profits are coming from.
With this information, you could go farther with your sales and promotion decisions, or your product positioning strategies, etc.
This unique business insight can be generated easily in Power BI. Watch this tutorial, Learn Where Your Profit Comes From Fast in Power BI w/Simple DAX, to see how I achieve that.
In this tutorial, I show you how you can discover profit insights quickly with Power BI using intuitive techniques.
It all comes down to utilizing your data model effectively. This requires you to build your data model well in the first place, then you must create the correct relationships. Moreover, you must combine the correct DAX measures to make it all work.
The report that I created in this demonstration is dynamic, so you can drill into the results. You can see your profits by customer, state, product, and salesperson. You can look through time or in any specific time frame you want.
Salespeople Performance Attribution
Another unique business insight you can extract from a Power BI analysis is the salespeople performance attribution. In this case, you’ll be looking into the percent of your sales for a certain region that are attributed to your top 3 salespeople. You can use this insight not only for rewards and incentives, but also for risk mitigation.
With Power BI, you can find out whether your sales in a region are clustered in a small group (of your salespeople) or if there is just one salesperson for example. If so, it could be a potential risk. What if this group of top-selling salespeople or the said individual leaves that sales region? Or what if they change companies? If something like this were to happen, it could bring your sales down immensely.
You could also use this insight to discover a lot of things about your salespeople, which you could then use as a tool for improving your other salespeople. You could also investigate deeper as to why certain regions have higher sales than other areas.
I show all the techniques needed to run this analysis in my tutorial, Discover Top Salespeople Contribution To All Sales in Power BI w/DAX.
Here, I showcase ranking DAX formulas and visualization techniques. Why not check out the tutorial and learn as much as you can?
The context is region, and for any region, I have calculated the total sales of the salespeople. Then, I find out the top 3 and analyze the sales they have made. This report is dynamic, so you can drill into a specific region or take a closer look at a certain salesperson.
Margin Growth by Salespeople
Furthermore, you could go even deeper with your profit analysis. You might want to see your margin growth in sales, right? With Power BI, you can do more than just finding out your profit margin. You could look into your salespeople and rank them based on their performance in this metric.
You can check out how I work this out in my video tutorial, Isolate Your Top Salespeople For Growth In Margins – Power BI & DAX.
In this tutorial, I work through a multi-step process that extracts insights from the given data, which would be almost impossible to discover using any other analytical tool. This is quite advanced, but it’s worth learning.
Key Takeaway
The analyses and insights that I showcase in this post are unique to Power BI because you can’t get them easily from using any other analytical tool. You can achieve them by learning the techniques I have demonstrated in these tutorials.
By combining the correct DAX measures and utilizing the model effectively, you’ll see that Power BI can give you these high-quality business insights. If you can understand the formulas used and learn how to implement them, many things will open up for you analytically in Power BI.
I have many more tutorials that cover advanced Power BI for business analytics, so make sure you check them out in our website, Enterprise DNA.
Cheers!
Sam
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Calculating Profit Leakage Using Power BI Analytics
Create Dynamic Lists of Dimensions Using DAX In Power BI
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